Both airlines are connected with club owner, Malaysian businessman Tony Fernandes, who took over in August.
Tony Fernandes tried to take over Premiere League club West Ham United in January but failed.
Chief Executive Tony Fernandes bought the Premier League's Queens Park Rangers last year.
The airline would start its operations with three to four Airbus 320 jets, AirAsia Chief Executive Tony Fernandes said in February.
Airline entrepreneur Tony Fernandes has found yet another venue to make his mark: starring as the chief executive in The Apprentice Asia.
Football club owner Tony Fernandes is the chief executive of Air Asia.
Which brings us to this year's selection, Malaysian travel entrepreneur Tony Fernandes.
Lotus team principal Tony Fernandes and technical director Mike Gascoyne had a meeting with Renault on Sunday morning at the British Grand Prix.
Lotus are aiming to be the best of the new teams in 2010, with team principal Tony Fernandes publicly challenging Virgin Racing's Richard Branson.
Elsewhere, Team Lotus officially changed their name to Caterham F1 on Wednesday, with team principal Tony Fernandes eyeing improvements in the 2012 Formula One season.
Lotus Racing team principal Tony Fernandes agreed a deal to use the Lotus name in F1 this year with the owner of Lotus Cars, the Proton car company.
In 2009, he set up and co-owns the AirAsia Asean Basketball League with Malaysian airline tycoon Tony Fernandes, meant to promote the sport of basketball across the region.
The 28-year-old admits he had other options, but was quickly sold on the new enterprise when he spoke to team principle Tony Fernandes and technical director Mike Gascoyne.
AirAsia, run by Malaysian billionaire Tony Fernandes is also expanding rapidly in the region and is expected to guard its turf fiercely against Lion Air, which is privately held.
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Indian steel magnate Lakshmi Mittal retained a one-third stake in QPR after Malaysian businessman Tony Fernandes became principal shareholder in 2011, but the club's fortunes have mirrored his own.
And AirAsia founder Tony Fernandes has noted that the orders have delivery dates that stretch for more than a decade and can be delayed if demand slows unexpectedly.
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Monday's hearing surrounded Group Lotus's decision to terminate a five-year licensing deal it had with Team Lotus boss Tony Fernandes's 1Malaysia group to use the Lotus brand in F1.
"Harry was our number one target, the unanimous choice of the board and we're delighted we've been able to attract him to the club, " QPR chairman Tony Fernandes said.
Tony Fernandes, CEO of regional low-cost carrier Air Asia and chairman of the Queens Park Rangers football club, caused headlines recently by announcing his move from his native Malaysia to Indonesia.
Gold and long-time business partner David Sullivan took over the club they supported in January after selling Birmingham City and winning a protracted takeover battle with Air Asia and Lotus F1 boss Tony Fernandes.
We believe 2010, with the explosion of leisure (and thrifty business) traffic, is the year that has proven Tony Fernandes' premise correct, that Asia needed and wanted a low-cost travel alternative (see p. 56).
The airline is still registered in Malaysia, home to its boss, Tony Fernandes, but the Jakarta office is the new base from which it hopes to dominate South-East Asia, with its 600m people, and beyond.
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AirAsia Chief Executive Tony Fernandes said in February that the new airline is likely to start flying by the end of this year and that it will initially use three or four Airbus A320 jets.
Two years ago, Branson and AirAsia Group CEO Tony Fernandes wagered on their Formula 1 racing teams, each man betting his own team would finish ahead of the other's in the 2010 Formula 1 Grand Prix in Abu Dhabi.
Tony Fernandes, the bullish chief executive, says that his dream of a new airport was born out of frustration with Malaysia Airports, KLIA's operator, which is controlled by Khazanah Nasional, the government's investment fund, as is Malaysia Airlines, the national flag-carrier.
And Lotus team principal Tony Fernandes said on his Twitter page that personnel from the Ferrari, Renault, Mercedes, Sauber and Toro Rosso teams were flying on his Air Asia airline to Malaysia before heading back to the UK on a special charter when the airports open.
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